The “part performance doctrine” permits a buyer to enforce an oral contract for the sale of land. True False
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The “part performance doctrine” permits a buyer to enforce an oral contract for the sale of land.
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- Provide the legal definition of a contract.Bill offers to sell Mary his computer for $500. Mary counters with an offer of $400 Bill rejects this offer. Mary tells Bill: "OK, I'll buy the computer for $500." Bill tells Mary: "I've decided not to sell the computer after all." Bill is in breach of contract because Mary made a valid offer. True FalseUnder the Uniform Commercial Code (UCC), which of the following remedies is available to both buyers and sellers? Select one: a. Recovering the total value of goods in the contract b. Recovering profit from the resale of nonconforming goods by the other party c. Damages in the amount of the difference between the contract price and the market price of goods d. Obtaining specific performance of the contract
- Ramona Smith spilled orange juice on her computer two days before her term paper was due. Ramona desperately needed a new laptop, so she went online and found a laptop that fit her needs. She emailed the seller, Effie Frost, expressing her desire to purchase the laptop. Effie ernailed Ramona back and said that she (Effie) would sell Effie's laptop to Ramona for $300. An hour later, Ramona and Effie signed the following agreement: "1, Effie Frost, agree to sell my laptop computer to Ramona Smith for Four Hundred Dollars and zero cents. This is the entirety of the agreement. This agreement supersedes any and all other agreements made by the seller and the buyer." Ramona now claims that she should only pay $300 for the laptop because during that initial email exchange with Effie, Effie told Ramona that $300 was the price of the laptop, and she has the email exchange as evidence of the price quote of $300. What legal concept could be used to enforce the contract for $400? O Condition…If the delivery term in the parties’ contract for the sale of goods is FOB the place at what the goods originated, absent any other agreement, the buyer is responsible for making reasonable arrangements for the goods to be shipped. true or falseEvaluate when a promise is enforceable, the elements of a contract, performance, and the remedies available in the event of breach.
- WHAT IS THE MEANING OF THE OBJECTIVE THEORY OF CONTRACTS AND HOW DOES THE OBJECTIVE THEORY OF CONTRACTS RELATE TO CONTRACTUAL INTENT?What is the definition of consideration and what general principles apply to its presence in contracts? Define promissory estoppel.Which of the following is true of a severable contract? Multiple Choice It must be enforced or rejected in its entirety. It contains multiple parts that need to be performed collectively. It has both legal and illegal portions in the contract. It needs complete performance by both parties.
- Xavier and Adam enter into a written contract for the sale of DJ equipment. Their contract states that risk of loss shall pass to the buyer at the time the contract is signed. Since this is contrary to Article 2 of the UCC, this clause is unenforceable. True FalseExplain how the following became sources of an obligation 1. Law 2. Contract 3. Quasi-contract 4. Acts or Omission punished by lawState the effect of illegality on a contract.